Almost all economists polled by Bloomberg before the National People’s Congress expected Beijing to announce a growth target similar to last year. Analysts in a separate, broader survey, however, said the economy would likely grow at about 4.6% in 2024.
China will set its growth target at around 5% for the year, according to a copy of the government’s annual work report seen by Bloomberg News, raising expectations for officials to unleash more stimulus as they try to lift confidence in a slowing economy.
Premier Li Qiang is set to officially unveil the annual goal for gross domestic product while delivering his first work report to the national parliament, which kicks off Tuesday. Matching last year’s figure will be harder as 2024 lacks the favourable comparison with the pandemic’s low base that boosted previous numbers.
